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Kelvinator began buying Leonard's boxes for its electric refrigerated models. By 1923, the Kelvinator Company held 80% of the American market for electric refrigerators. [2] On July 3, 1925, Kelvinator bought Nizer Corporation in a tri-party merger valued at $20 million. [5] In 1926, the company acquired Leonard, which had been founded in 1881.
Replacing a refrigerator can make a serious dent in your savings, as a brand-new refrigerator could cost anywhere from $900 to $8,000. Most people avoid replacing their appliances until it's an ...
The merged company began on 2 January 1937 with no debt and $50 million in cash assets. [3] Mason then served as president of Nash-Kelvinator until 1954 when the firm merged with Hudson Motors. [1] Nash-Kelvinator ranked 27th among United States corporations in the value of World War II production contracts. [4]
On September 8, 2014, General Electric agreed to sell the company to Electrolux, a Swedish appliance manufacturer and the second-largest consumer appliance manufacturer after Whirlpool Corporation, for US$3.3 billion in cash. The deal carried a US$175 million termination fee clause if Electrolux was unable to complete the acquisition.
Whirlpool Corporation is an American multinational manufacturer and marketer of home appliances headquartered in Benton Charter Township, Michigan, United States. [2] In 2023, the Fortune 500 company had an annual revenue of approximately $19 billion in sales, around 59,000 employees, and more than 55 manufacturing and technology research centers globally.
Food in a refrigerator with its door open. A refrigerator, commonly shortened to fridge, is a commercial and home appliance consisting of a thermally insulated compartment and a heat pump (mechanical, electronic or chemical) that transfers heat from its inside to its external environment so that its inside is cooled to a temperature below the room temperature. [1]
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